SushiSwap’s Jared Grey Unveils “10x Market Share” Plan

On a pink background, SushiSwap CEO Jared Grey stands in a chef's uniform with wasabi for hair. From his back come four arms holding chopsticks and different sushi rolls.
  • SushiSwap’s Head Chef announces ambitious goals for 2023, including becoming a market-leading platform with user-centric features.
  • The platform plans to release its DEX aggregation router in Q1 2023 to increase swap volumes and fees and improve the overall user experience.
  • SushiSwap aims to focus on scalability and sustainability to “reinvent” the platform’s future.

SushiSwap, a decentralized exchange (DEX), announced its goals for 2023 on January 16th, 2023, via Head Chef Jared Grey’s Medium.

SushiSwap’s new initiatives for “revitalizing SushiSwap” will focus on scalability and sustainability. Grey’s announcement further stated: “by executing our vision, we intend to 10x our market share in 2023.”

The platform’s unveiled roadmap for 2023 includes the following elements:

  1. Positioning Sushi as a market-leading, community-centric DEX via “deep liquidity, optimal pricing, sustainable tokenomics,” and a user-friendly platform.
  2. Releasing a DEX aggregation router to increase swap volumes and fees by leveraging SushiSwap’s Trident network and new token model proposal.
  3. Maintaining a decentralized organizational structure to promote product autonomy via best principles like “self-custody, equitable governance, & permissionless trading.”
  4. Implementing newly optimized tokenomics and improving liquidity, sustainability, community ownership, and DAO treasury diversification.
  5. Launching Sushi Studios as a decentralized incubator that will allow independently-funded projects to use the Sushi brand and support ecosystem growth without depleting the DAO treasury.

The platform will promote deep integration with its network partners as part of these efforts. It will offer them equitable inclusion in the SushiSwap DEX to help make it the go-to exchange for new token launches. Grey also states that the platform has taken measures to secure its “runway for multi-year operations.”

Through a Troubled Looking-Glass

The DEX has had a tumultuous history since its launch in September 2020. The platform was initially created as a fork of Uniswap to create a community-driven decentralized exchange.

Since then, the project has struggled to regain its market share in the DEX space and the trust of its community following a series of controversies. These include the sudden departure of the project’s original lead developer, Chef Nomi, after he “removed his liquidity from SUSHI/ETH pool and sold it for 17,971 ETH.”

On the Flipside

  • The platform currently commands only 2% of the Automated Market Maker (AMM) market and 0% of the aggregation market.
  • Achieving a 10x increase in market share in 2023 is ambitious, considering the current competitive market.
  • Considering SushiSwap’s troubled history, the community remains skeptical about the execution of Jared Grey’s “10x” vision.

Why You Should Care

The successful execution of the 2023 roadmap aims to reposition SushiSwap as a force to be reckoned with among decentralized exchanges. Demand for reputable platforms is increasing, which could dramatically alter the current crypto landscape.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Monique Brelage

Monique Brelage is a crypto news reporter with a particular interest in the NFT and Web3 gaming sectors. She combines her knacks as a writer, artist, gamer, marketer, and Web3 enthusiast to educate audiences about complex topics in an engaging way. After immersing herself into the realm of NFTs in 2019, Monique has since explored many industries, from fashion to commerce, but has always remained invested in the Web 3.0 ecosystem. She acknowledges the profound impact decentralization will have on the future.